Ligation Devices Market: Growing Demand for Minimally Invasive Surgery and Rising Prevalence of Cancer and Hernia
Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment, especially minimally invasive surgery (MIS). However, the high cost of ligation devices is a major restraint for this market, particularly in emerging countries. The ligation devices market is projected to reach USD 1,189 million by 2024 from USD 876 million in 2019, at a CAGR of 6.3%. Accessories are expected to fuel the growth of the ligation devices market over the forecast period. By product, the ligation devices market is segmented into handheld instruments and accessories. The accessories segment accounted for a share of 68.2% in 2018 and is anticipated to grow at a CAGR of 6.9% during the forecast period. This growth can be attributed to the increasing number of surgical procedures, especially in emerging markets. Increasing use of ligation devices in gastrointestinal & abdominal surgeries to drive market growth during the forecast period Based on applicat...